On January 12, General Motors CEO Mary Barra introduced the Chevy Bolt concept car at the North American International Auto Show in Detroit.
Media outlets far and wide hailed the poorly named Bolt electric vehicle (EV) as a strong future competitor to Tesla’s forthcoming Model 3. Unlike Chevy’s existing token electric car, the hybrid Volt (which features a small three-cylinder internal combustion engine), the Bolt (with a “B”) is an all-electric, pure EV.
What They’re Saying
CNET’s Wayne Cunningham wrote, “Chevrolet looks to beat Tesla to the punch, unveiling its Bolt concept, a hatchback using lightweight body materials and a pure electric drivetrain.” One cocky blogger, Anton Wahlman at Seeking Alpha, went so far as to headline his post “GM’s 200-Mile Electric Car for $30,000: RIP Tesla.”
Given GM’s poor track record for quality—plus its 2009 bankruptcy and taxpayer bailout—“RIP Tesla” smells a bit like clickbait. How quickly we forget that GM last year announced “six recalls covering 8.4 million vehicles globally” and reported “seven crashes, eight injuries, and three fatalities linked to the recalled vehicles,” [emphasis mine] according to a June 2014 article from Edmunds.com.
The most significant attributes of Chevy’s new electric Bolt are its predicted price and driving range. At just shy of $40,000 and with a between-charges driving distance of 200 miles, GM is squarely aiming the Bolt at the masses (i.e. Nissan’s LEAF and Tesla’s future Model 3). It is also addressing the most prevalent consumer fear about EVs: Range anxiety.
Hold the Press
However, GM is fudging the numbers a bit, and lazy journalists are going for it hook, line, and sinker. The Los Angeles Times and Car and Driver were two of the only publications to point out that Chevy’s target price of $30,000 is after a federal tax incentive (the current $7,500 federal tax credit might not even exist in 2017). It can be assumed that the Bolt will feature a price more like $38,000.
This isn’t trivial, because the tax credit applies only if you owe taxes and simply discounts what you owe; if you owe nothing, you realize no financial gain (it’s not a rebate). [You can learn more here.]
Following statements from Tesla CEO Elon Musk, this would make the Bolt more expensive than the future Tesla Model 3, which Musk said will be $35,000 before tax incentives (making it only $27,500 if the incentives still exist in 2017). Let’s not forget that it was the Chevy Volt’s (with a “V”) original $41,000 price tag that, in the words of SFGate.com’s Tom Krisher, “…hamstrung sales, even with a $7,500 federal tax credit.” It’s fair to say that $38,000 would position the Bolt as more expensive than the Nissan LEAF and Model 3, which will likely be the most direct competitors.
Like popular electric cars currently on the market, the Bolt will feature a lithium-ion battery and plug into any common 120 or 240-volt wall outlet to charge. However, it will also sport advanced features not found on current affordable EV models, like carbon fiber and aluminum throughout, a 10-inch touchscreen, and even the ability to self-park—if these features make it into the production vehicle.
General Motors is committing not only to the Bolt, but also to the science of electric cars overall. In the past months, Detroit’s number two global automaker announced an investment of $65 million in lithium-ion battery research and production (which, while impressive, pales in comparison to Tesla’s $5 billion “Gigafactory” investment).
Like the Model S
Being a concept, there’s plenty that’s not known about the Bolt—and that will change significantly between now and when the concept goes into production in late 2016 (as a 2017 model). GM claims the ground-breaking vehicle will support DC fast charging, but hasn’t made any claims about charge time. Chevy also hinted that the vehicle will offer adaptive suspension, allowing the car to adjust its ride for different road conditions and, in theory, extend its driving range (an optional feature found on significantly more costly competitors, like the Tesla Model S).
Like the Bolt, the Model 3 is also slated to offer a driving range of 200+ miles. However, given that Tesla is investing billions into its own high-tech battery factory outside Reno (the Gigafactory), it wouldn’t be surprising if the Silicon Valley darling is able to beat GM in this particular department (Chevy is sourcing its batteries from South Korea’s LG Chem).
General Motors is trying to crack the EV mold by offering an affordable model that will provide a decent driving range and advanced technical features. As reported by the Los Angeles Times, Karl Brauer, a senior analyst at Kelley Blue Book, said, “The affordable-yet-functional electric car has yet to materialize, remaining an automotive unicorn.”
While larger than it appears in most press photos, the styling of the Bolt four-door hatchback is decidedly practical, yet modern. My first response was that it appears to be a Toyota Yaris on steroids. Road & Track said that the concept’s styling “is definitely evocative of the [BMW] i3—which is to say, a refrigerator on wheels…”
While I’m somewhat disappointed by the Bolt concept’s design—which reminds me of a large-scale econobox or slimmed down crossover SUV—it’s not ugly. In fact, the more photos I see of it, the more it’s growing on me. The Bolt’s blunt nose, which makes Chrysler’s old “cab forward” design almost Jimmy Durante-esque in appearance, screams to the world, “I have no internal combustion engine under my hood!”
It’s fair to say that the current seating for four may expand to five and that the concept’s panoramic glass roof will disappear. Auto manufacturers love to goose up concept vehicles with large wheels and glass tops in an effort to make them appear roomier than they actually are. In fact, the chief reason concept cars typically sport only two rear seats is so they won’t appear cramped when filled with auto journalists during photo shoots.
Competitive in 2017?
If the Bolt was available today, it would be extremely competitive. Nissan’s LEAF (the most popular electric car ever) and the Fiat 500e both offer a driving range of 75-85 miles per charge, less than half what Chevy is boasting the Bolt will deliver. However, rumors of an updated LEAF predict a driving range that will be more than double the current model (this is how fast EV tech is evolving).
Given the competitive spirit of Nissan CEO Carlos Ghosn (pronounced “ghone,” like phone) and the fact that Chevy’s announcement is nearly two years in advance of the Bolt’s availability, it wouldn’t be shocking if Nissan actually bested the Bolt’s driving range. And, in fact, it will. Ghosn told reporters on January 13, at the North American International Auto Show in Detroit, that Nissan will update the LEAF to an equal 200 mile range a full year before GM’s bolt even comes to market. In fact, Ghosn told reporters in Detroit that the LEAF “may have even more range.”
Ghosn, known for his confident persona and management style, added, “We are the leaders and we frankly intend to continue to be the leaders. Generations of EVs coming are going to get better, less costly, lighter, [and] more autonomous.” According to Inside EVs, “Nissan’s answer to the recently unveiled Chevrolet Bolt is under development right now and is up to a year ahead of the Bolt’s expected production launch. Furthermore, Nissan’s answer will almost certainly be cheaper and seat five.” The popular electric vehicle blogging site estimated that the LEAF could arrive with a price of only $30,000, undercutting the Bolt’s true price by at least $8,000.
If the Tesla Model 3 can also exceed the driving range of the Bolt (Tesla Motors CEO Elon Musk isn’t exactly known for lazily resting on his laurels), that’s two major competitors—one of which may undercut the Bolt’s price by nearly $10,000—that will embarrass Chevy in terms of the two major talking points of its big reveal in Detroit: Driving range and price.
I’m conflicted when it comes to the Bolt. Part of me loves it. Each new fully electric vehicle on the road means one fewer gas-guzzler and that much less CO2 being pumped into the air. But another part of me (the consumer advocate tech writer) realizes that this is, after all, General Motors.
Given the General’s inferior track record during the past few years, how many of the Bolt concept’s slick features, like self-parking, adaptive suspension, and carbon fiber body panels, will actually see the light of day in a production version? And, if they do, how likely is Chevy to be able to reach a sub-$40K price to compete with Nissan and Tesla?
[For a different perspective on the Bolt, check out my colleague Nicolas Zart’s rundown over at CarNewsCafe.com or Aaron Turpen’s review at FutureCars.com.]
P.S.: In all fairness, some auto journalists love the Bolt’s styling. Wrote Nikki Gordon-Bloomfield at Transport Evolved, “The Chevy Bolt looks great too—a little like the illegitimate love-child between a BMW i3, a Chevy Spark, and perhaps a Renault Scenic MPV.”
Also, The Detroit News has reported, the day after GM’s official announcement, that company executives said they could change the Bolt name prior to the release of the new EV. According to the paper, “GM North American President Alan Batey said the company needs to communicate the name. ‘Bolt is the brother of the Volt—a bolt of lightning. It’s all to do with electricity,’ he said in an interview. ‘We’re going to have a lot of time to communicate this and bring it to life. It’s a concept, so we’re just playing with the name right now and our job is not to confuse people.'”
Curt Robbins is author of the following books from Amazon Kindle:
You can follow him on Twitter at @CurtRobbins, read his AV-related blog posts at rAVe Publications, and view his photos on Flickr.